BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION ...

M/S DATAR SWITCHGEARS LTD.
CASE NO. 260/2001 (D.O.(MA-106)-28.04.2011)
MEANS OF FINANCE
For Secured creditors
Conversion of Restructured Terms Loan 2633
Issue of Zero Coupon Bonds 8055 10688
For Unsecured creditors (Banks) in schedule XI
Conversion to Restructured Term Loan 479
Issue of Zero Coupon Bonds 1557 2036
Other unsecured creditors in schedule XI A
Conversion to Restructured Term Loan 389
Proceeds from Transferee company (to be deposited in Escrow
Accounts and then to utilized towards meeting cost of scheme) 2400
Funding from promoters 249
Total 15762
2. In th e previou s review h ea rin g, h eld on 30.12.2009, th e Ben ch is s u ed
the following directions:-
a. ICICI (MA) wou ld exa m in e th e cla im s of Sa ra s wa t Co-operative
Ba n k Lim ited, Corpora tion Ba n k , Cen tra l Excis e & Cu s tom s a n d
Ba n k of Ma h a ra s h ta ra , a n d oth er creditors , a n d wou ld s u bm it a
Sta tu s Report in th is res pect a lon g with its recom m en da tion s
keeping the provisions of the Sanctioned Scheme in view.
b. Sa ra s wa t Co-opera tive Ba n k Lim ited, Cen tra l Excis e & Cu s tom
and DIR(R) to submit status of their claims within three weeks.
c. Show Caus e Notic e (SCN) in t e rm s of provis ions u/ s 3 3 , re ad
wit h 3 4 of SICA Ac t , 1 9 8 5 be is s ue d t o Lars e n & Toubro
Lim it e d, Corporat ion Bank and Bank of Maharas htara for non
c om pliance wit h t he provis ions of t he Sanctioned Sc hem e .
Their re s pe c t ive re plie s s hall be s ubm it t e d t o t he Board wit hin
30 days.
d. Ben ch exten d th e Mora toriu m period for s ix m on th s .
2